SDTY vs. UPRO

Last updated Jun 4, 2026

SDTY (YieldMax S&P 500 0DTE Covered Call Strategy ETF) and UPRO (ProShares UltraPro S&P 500) are both exchange-traded funds - SDTY is a Derivative Income fund actively managed by YieldMax, while UPRO is a Leveraged Equities fund tracking the S&P 500. SDTY is actively managed, while UPRO is passively managed. Over the past year, SDTY returned 25.63% vs 80.84% for UPRO. Their correlation of 0.92 suggests significant overlap in exposure. SDTY charges 1.01%/yr vs 0.89%/yr for UPRO.

Performance

SDTY vs. UPRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) and ProShares UltraPro S&P 500 (UPRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SDTY achieves a 8.45% return, which is significantly lower than UPRO's 27.90% return.

SDTY

• 1D: -0.51%
• 1M: 4.38%
• YTD: 8.45%
• 6M: 8.89%
• 1Y: 25.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UPRO

• 1D: -2.09%
• 1M: 14.64%
• YTD: 27.90%
• 6M: 26.67%
• 1Y: 80.84%
• 3Y*: 52.58%
• 5Y*: 23.13%
• 10Y*: 30.09%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SDTY vs. UPRO - Yearly Performance Comparison

	2026 (YTD)	2025
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	8.45%	9.83%
UPRO ProShares UltraPro S&P 500	27.90%	21.05%

Correlation

The correlation between SDTY and UPRO is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Feb 7, 2025	0.92

The correlation between SDTY and UPRO has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

SDTY vs. UPRO - Sectors Allocation Comparison

Sectors	SDTY	UPRO
Technology	35.6%	17.8%
Financial Services	11.8%	28.8%
Communication Services	11.2%	4.8%
Consumer Cyclical	10.1%	4.5%
Healthcare	8.5%	3.8%
Industrials	8.3%	3.4%
Consumer Defensive	4.9%	2.0%
Energy	3.5%	1.4%
Utilities	2.4%	1.1%
Real Estate	1.9%	0.8%
Basic Materials	1.8%	0.8%

Return for Risk

SDTY vs. UPRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SDTY

SDTY Risk / Return Rank: 70
SDTY Sharpe Ratio Rank: 71
SDTY Sortino Ratio Rank: 70
SDTY Omega Ratio Rank: 72
SDTY Calmar Ratio Rank: 64
SDTY Martin Ratio Rank: 72

UPRO

UPRO Risk / Return Rank: 62
UPRO Sharpe Ratio Rank: 68
UPRO Sortino Ratio Rank: 57
UPRO Omega Ratio Rank: 58
UPRO Calmar Ratio Rank: 60
UPRO Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SDTY vs. UPRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) and ProShares UltraPro S&P 500 (UPRO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	SDTY	UPRO	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.30	+0.04
Sortino ratio: Return per unit of downside risk	3.21	2.76	+0.45
Omega ratio: Gain probability vs. loss probability	1.43	1.36	+0.07
Calmar ratio: Return relative to maximum drawdown	3.21	3.03	+0.18
Martin ratio: Return relative to average drawdown	13.58	12.80	+0.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDTY vs. UPRO - Sharpe Ratio Comparison

The current SDTY Sharpe Ratio is 2.34, which is comparable to the UPRO Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of SDTY and UPRO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SDTY	UPRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.30	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.65	+0.20

Drawdowns

SDTY vs. UPRO - Drawdown Comparison

The maximum SDTY drawdown since its inception was -18.63%, smaller than the maximum UPRO drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for SDTY and UPRO.

Drawdown Indicators

	SDTY	UPRO	Difference
Max Drawdown Largest peak-to-trough decline	-18.63%	-76.82%	+58.19%
Max Drawdown (1Y) Largest decline over 1 year	-8.02%	-26.78%	+18.76%
Max Drawdown (3Y) Largest decline over 3 years	—	-48.87%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-63.94%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-76.82%	—
Current Drawdown Current decline from peak	-0.62%	-2.09%	+1.47%
Average Drawdown Average peak-to-trough decline	-3.02%	-14.42%	+11.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	6.33%	-4.44%

Volatility

SDTY vs. UPRO - Volatility Comparison

The current volatility for YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) is 2.58%, while ProShares UltraPro S&P 500 (UPRO) has a volatility of 8.45%. This indicates that SDTY experiences smaller price fluctuations and is considered to be less risky than UPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDTY	UPRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	8.45%	-5.87%
Volatility (6M) Calculated over the trailing 6-month period	8.39%	26.60%	-18.21%
Volatility (1Y) Calculated over the trailing 1-year period	11.00%	35.35%	-24.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.79%	50.32%	-33.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	53.74%	-36.95%

SDTY vs. UPRO - Expense Ratio Comparison

SDTY has a 1.01% expense ratio, which is higher than UPRO's 0.89% expense ratio.

Dividends

SDTY vs. UPRO - Dividend Comparison

SDTY's dividend yield for the trailing twelve months is around 25.97%, more than UPRO's 0.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	25.97%	22.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UPRO ProShares UltraPro S&P 500	0.68%	0.84%	0.93%	0.74%	0.52%	0.06%	0.11%	0.41%	0.63%	0.00%	0.12%	0.34%

Frequently Asked Questions

Can I hold both SDTY and UPRO in my portfolio?

With a correlation of 0.92, SDTY and UPRO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SDTY or UPRO?

UPRO has higher volatility (8.45%) compared to SDTY (2.58%). In terms of maximum drawdown, SDTY dropped -18.63% vs UPRO's -76.82%.

Which ETF is better, SDTY or UPRO?

On 1-year performance, UPRO leads with 80.84% vs 25.63% for SDTY. On fees, UPRO is cheaper at 0.89% per year. On volatility, SDTY has been the lower-risk option at 2.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SDTY or UPRO?

Over the 1-year period, UPRO has performed better with a 80.84% return vs 25.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SDTY or UPRO?

UPRO is cheaper with a 0.89% expense ratio, compared with 1.01% for SDTY.

Which ETF pays a higher dividend yield, SDTY or UPRO?

SDTY has the higher dividend yield at 25.97%, compared with 0.68% for UPRO.

What is the main difference between SDTY and UPRO?

SDTY is categorized as Derivative Income, while UPRO is Leveraged Equities. They also come from different issuers: YieldMax and ProShares. Their fees differ too: 1.01% for SDTY and 0.89% for UPRO.

Which has better risk-adjusted returns?

SDTY currently has the higher Sharpe Ratio (2.34 vs 2.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.